XML 25 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Oct. 31, 2016
Oct. 31, 2015
Oct. 31, 2014
Revenues:      
Product sales (including $43.6 million, $100.5 million and $115.0 million of related party revenue) $ 62,563 $ 128,595 $ 136,842
Service agreements and license revenues (including $8.5 million, $11.4 million and $14.9 million of related party revenue) 32,758 21,012 25,956
Advanced technologies contract revenues (including $0 million, $0.6 million and $0.4 million of related party revenue) 12,931 13,470 17,495
Total revenues 108,252 163,077 180,293
Costs of revenues:      
Cost of product sales 63,474 118,530 126,866
Cost of service agreements and license revenues 33,256 18,301 23,037
Cost of advanced technologies contract revenues 11,879 13,470 16,664
Total costs of revenues 108,609 150,301 166,567
Gross (loss) profit (357) 12,776 13,726
Operating expenses:      
Administrative and selling expenses 25,150 24,226 22,797
Research and development expenses 20,846 17,442 18,240
Total operating expenses 45,996 41,668 41,037
Loss from operations (46,353) (28,892) (27,311)
Interest expense (4,958) (2,960) (3,561)
Other income (expense), net 622 2,442 (7,523)
Loss before provision for income taxes (50,689) (29,410) (38,395)
Provision for income taxes (519) (274) (488)
Net loss (51,208) (29,684) (38,883)
Net loss attributable to noncontrolling interest 251 325 758
Net loss attributable to FuelCell Energy, Inc. (50,957) (29,359) (38,125)
Preferred stock dividends (3,200) (3,200) (3,200)
Net loss to common shareholders $ (54,157) $ (32,559) $ (41,325)
Net loss to common shareholders per share      
Basic $ (1.82) $ (1.33) $ (2.02)
Diluted $ (1.82) $ (1.33) [1] $ (2.02) [1]
Weighted average shares outstanding      
Basic 29,773,700 24,513,731 20,473,915
Diluted 29,773,700 24,513,731 20,473,915
[1] Due to the net loss to common shareholders in each of the years presented above, diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been antidilutive. At October 31, 2016 and 2015, potentially dilutive securities excluded from the diluted loss per share calculation are as follows: October 31, 2016 October 31, 2015July 2016 Offering - Series A Warrants7,680,000 —July 2016 Offering - Series B Warrants3,826,000 —July 2014 Offering - NRG Warrants166,666 166,666Outstanding options to purchase common stock246,923 257,769Unvested RSAs915,831 450,7835% Series B Cumulative Convertible Preferred Stock (2)454,043 454,043Series 1 Preferred Shares to satisfy conversion requirements (2)1,042,000 337,200 Total potentially dilutive securities14,331,463 1,666,461(2)Refer to Note 12, Redeemable Preferred Stock, for information on the calculation of the common shares upon conversion.